Shiba Inu (SHIB) has an incredibly large fan base. However, a majority of the coin’s holders are sitting on losses. SHIB’s performance over the last few years has been nothing short of lackluster. While early investors may big profits, people who bought at the top have lost significant value. Let’s look at three alternatives that you can consider, if you are a Shiba Inu (SHIB) fan.
3 Shiba Inu Alternatives You Can Consider
Before entering into memecoin investing, you should note that memecoins are among the riskiest of assets in any market class. Shiba Inu (SHIB), while having given good returns in its early days, has seen extremely volatile price swings. According to CoinGecko”s SHIB data, the asset is down by more than 90% from its all-time high of $0.00008616, which it attained in 2021.
The first alternative you can consider if you are a SHIB fan is Dogecoin (DOGE). DOGE is the original memecoin and Shiba Inu (SHIB) was launched as its rival. In fact many called SHIB “DOGE killer.” However, DOGE’s performance has been consistently better than SHIB over the last few years. The project has maintained its market cap among the top 10 projects, which SHIB has failed to do. Moreover, there is a lot of talk about Dogecoin (DOGE) being potentially included in X Money, X’s upcoming payment platform. Such a move could lead to a massive price surge for the memecoin.
The second Shiba Inu (SHIB) alternative you can consider is Pepe (PEPE). The frog-themed memecoin had an incredible launch in April 2023, having hit multiple all-time highs. However, PEPE, like most other memecoins, has struggled over the last year amid a risk-off market approach among investors.
Also Read: New To Crypto? Here Are Some Low-Risk Coins To Consider
The third alternative for Shiba Inu (SHIB) could be Bonk (BONK), which is another dog-themed memecoin, but based on the Solana (SOL) network. BONK also had incredible success in its early days, but has since struggled, given the larger bear market. Things could change for the better once the market is back on its feet.
